WiseTech Global Limited (ASX:WTC), which is up 78% in one year, is up another 6.4% at the time of writing to $11.25. At the Macquarie Conference yesterday, the company's presentation shows a healthy outlook for FY18 earnings, with EBITDA to grow from $54 million in FY17 to $71 million to $75 million in FY18, an increase of at least 32%.
In February this year, the share price crashed 23% after the release of its half year December 2017 results, which were in line with expectations, but the share price was starting to look overbought.
WiseTech, a provider of software to the logistics industry globally, is trading on a forward price-to-earnings (PER) ratio of 77x. WiseTech looks expensive at these levels, as the outlook for earnings is good but probably does not justify such a high PER.
